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NBC
Nov 29, 2012 4:00am PST
of us, it was another day of facing the fiscal cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter: white house negotiators are meeting with bo
PBS
Nov 29, 2012 3:00pm PST
over the fiscal cliff and shortly after the white house and the democrats answered that the republicans had not offered any of their own plans. is this something that's going to be able to be taken care of while you're still a representative or is it going to land in your lap when you move to the other chamber? >> you know, i hope we get it done, obviously. we want to avoid the cliff. it is a little troubling that we don't have any real plans or offers on the spending side. i think on the revenue side it's pretty clear by knew republicans are willing to give up more revenue, but we've got to see a balance. there's got to be spending cuts and if those have been offered, i'm not sure what they are. >> suarez: are you one of those members who's staked out a position on whether it has to be rates or effective revenue and not rates? >> well, i think it can be effective revenue. obviously it depends on where you put the level of deductions that can be taken. so i'd rather not raise rates at all. i think it can be done without that. but certainly additional revenue is going to be r
FOX News
Nov 29, 2012 10:00am PST
discussion in the fiscal cliff talks. i think what is going on here is the white house heard the criticism and they are trying to breathe some new life into these talks. politico reported there was a phone call between the president and speaker boehner. they claim it was curt as in a short call that did not go well. jay carney just pushed back and said it was a 28-minute phone call. he said it was frank and direct. and it was good, it was positive. they believe, the white house does, that they are making progress. but i pressed jay carney. i said will spending cuts be included? and here is what he said. >> can you hold up that budget, look in the camera and say to your fellow democrats on capitol hill, vote for and include some of these spending cuts in this deal to avoid the fiscal cliff? because that's not what they are doing. should they include those? >> yes. and i know that democrats accept that there -- this has to be a balanced package that includes revenues and cuts and spending cuts. >> reporter: so news the white house is saying different from yesterday that spending cu
FOX Business
Nov 28, 2012 7:00pm EST
market interpreted positive statements on a potential deal on the fiscal cliff by house speaker and rebounded from what had been a 112-point slide after the morning's opening bell. the dow jones industrials reversed, as i said, on the speaker's positive remarks and finished the session up 107 points. s&p up 11, nasdaq gained 24. all ten s&p 500 sectors moved higher on the day. that is the first time it has happened since october 4th. retailers drove the consumer discretionary sector energy industrials lead in the wake, and the rally started just minutes before house speaker made it clear that republicans are willing to deal on revenue and ready to find a resolution now. >> we all know that we have had this spending crisis coming at us like a freight train. it must be dealt with. and in order to try to come to an agreement, republicans are willing to put revenue on the table, but it is time for the president and democrats to get serious about the spending problem that our country has. i am optimistic that we can continue to work together to avert this crisis sooner rather than later.
MSNBC
Nov 29, 2012 8:00am PST
specifically right how giving the looming fiscal cliff. so i suggest -- or i imagine they will discuss that, as well. but do we expect anything larger to come out of this? the white house is managing expectations saying there is really no agenda for this luncheon. it's really to bury the hatchet and to allow the country to move on, as well. >> right now, though, we do know treasury secretary tim geithner as we were telling everyone was on the hill, these marathon meetings with congressional leaders. what more do we know about those meetings? obviously starting off with some of the harder ones at first bhak through nancy pelosi as his last. >> we know the treasury secretary will be heading to the hill with rob nabors. he will be meeting with all of these congressional leaders separately. starting off -- or including house speaker john boehner. of course boehner will be key to moving the needle on these fiscal cliff negotiations. this comes on the heels of a phone call between president obama and speaker boehner which occurred credit. my sources are telling me the phone call lasted for about a half an hour. politico described it as curt, but may sources say that's not neces
FOX Business
Nov 29, 2012 11:00am EST
leadership team met with her stumbles and business leaders about averting the fiscal cliff and achieving a balanced approach the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to roll out sensible spending cuts that must rollup any agreement that will reduce our deficit. mr. bowles himself that there have been no serious discussion of spending cuts so far. unless there is, there is a real danger of going off the cliff. that will hurt our economy and cost american jobs. republicans have taken action to revert the fiscal cliff. to replace the sequestered and paid way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not need a victory lap, it needs leadership. it is time for th
CBS
Nov 28, 2012 5:30pm PST
it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is not interested in personally meeting with congressional republ
NBC
Nov 29, 2012 4:30am PST
capital where overnight developments on today's important meeting regarding that looming fiscal cliff. >>> 4:44. thursday morning. no agreement yet but both parties still fighting to compromise. top white house negotiators head to capitol hill today to continue talks about avoiding the fiscal cliff. tracie potts has the latest on the fight to keep your tax breaks from disappearing. >> reporter: treasury secretary tim geithner and white houlegis chief rob neighbors bring the deficit-cutting plan to capitol hill today. >> i'm very open to a fair and balanced approach to reduce our defic deficit. >> reporter: republicans want to know does that approach include the government spending less money. >> we put revenue on the table as long as it's accompanied by serious spending cuts. >> reporter: white house negotiators are meeting with boehner and top republicans and democrats, executives from big companies heard the plan wednesday at the white house. at least one thinks there could be a deal here. >> if i were involved in negotiation like this and everybody was purporting to be where they are, i would say that an agreement is reachable. >> i'm hopeful but i wouldn't put me anywhere near optimistic. >> reporte
CNN
Nov 29, 2012 8:00am PST
the negotiations with congress over these fiscal cliff negotiations. we had had a brief shot of him arriving this morning as he was coming into the capitol. he's being joined by rob neighbors, the white house liaison to congress. he's a man that has long standing relationships with folks on capitol hill. series of meetings, all individual meetings, senator reid, told by my colleagues he's in a meeting with house speaker john boehner and mitch mcconnell, top republican in the senate, as well as nancy pelosi, the top democrat in the house. now coming out of the meeting with senator reid, i'm not getting much at the moment from sources but one democratic aide tells me the following. he says that we -- this aide told me, we're all on the same page today. it's more about republicans. that goes without saying, because these negotiations really were focusing on the negotiations between the white house and speaker boehner, even before the meeting, which the treasury secretary and speaker boehner, a spokesman gave us this following statement, ashleigh. i want to read to you. he says, we accepted this meeting with the expectation that the white house team will bring a specific plan for real spending cuts, b
PBS
Nov 28, 2012 6:30pm PST
the president and lawmakers, urging them to compromise on the fiscal cliff. we speak to honeywell's david cote. >> tom: i'm tom hudson. automakers go green. general motors' unveils its newest all-electric chevy spark. >> susie: and what would you do if you won powerball? some advice tonight on how to handle winning $550 million. >> tom: that and more tonight on "n.b.r." >> susie: a parade of business leaders in washington today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime
FOX Business
Nov 29, 2012 1:00pm EST
>> i am melissa francis. >> i am lori rothman. so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchanged line. and then you have people saying how the white house has had
FOX
Nov 29, 2012 12:00pm PST
does not take action to stop them. going over the fiscal cliff could trigger a recession, some say. >>> mitt romney was at the white house earlier today for a lunch meeting with president obama. his invitation keeps the promise he made when he declared victory on election night to talk with the gop candidate about areas where they have common interests. the two were to talk over lunch in the white house private dining room. the president's press secretary said the president didn't have any particular agenda, and it was closed to the media. >>> out of service. we were hear when police tested this emergency phone. we'll show you what happened and tell you why this phone is just part of a larger problem. >>> more specifics on when the next storm arrives in your neighborhood and how much rain it will bring. >>> as the dump truck continued forward, it hit nine other vehicles, so 11 vehicles totaled. >> a truck crashed in the east bay. the simple explanation for what caused it. >>> an unusual accident involving a big rig. the truck driver said he had a sneezing fit while behind the wheel. >> he claimed that he had a sneezing fit and u
CNN
Nov 29, 2012 2:00am PST
president obama and the house speaker, john boehner, both expressing optimism on those fiscal cliff negotiations in washington. the dow rallied 100 points yesterday off of those comments. how many times have you heard me say congress will mess it up. >>> goldman sachs ceo met with the president and others yesterday for those fiscal cliff talks. listen to what he told wolf blitzer when asked if taxes should be raised on those making more than $250,000 a year. if that's what it takes to make the math work when you look at entitlement side and revenue side, i wouldn't preclude that. of course we would have to do that if the numbers drive that way. >> he said america can't afford itself right now the way we're going. fiscal cliff talks today continue with geithner making the rounds on capitol hill. later this morning, third quarter gdp expected to be revised higher. economists expect gdp for july to september to be revised from 2% to 2.8%. that would be good news. this is still modest growth. everyone hopes that next year will be a better year than this one in terms of growth. you want
PBS
Nov 29, 2012 1:00am PST
focus, some encouragement from capitol hill in the white house over avoiding the fiscal cliff. and the major stock indices head higher. the s&p 500 began the session by moving lower, hitting its lowest level of the day in the first hour. it moved into the green for the session the same hour president obama said they may have a fiscal cliff deal by christmas. the index finished at its high of the day, up 0.8%. volume grew from yesterday's pace. 708 million shares traded on the big board, just over 1.7 billion on the nasdaq. it was the consumer sector that was the hottest, with discretionary stocks up 1.3%. the energy sector gained 1.1%. industrials gained 0.9%. retail stocks were on the buy list for traders and investors with stores appealing to a broad array of shoppers. moving higher, there was the sector leading gains of j.c. penney, rising 4.6%. volume was more than double with the stock bouncing off three year lows hit last week. the company has struggled to remake itself with fewer promotions. and then there's luxury goods company coach. it gained 4.4%. last week, the stock fell t
FOX News
Nov 29, 2012 2:00am PST
capitol hill. we are four weeks away from going over that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already done more than a billion dollars worth of cuts. >> the top democrat i
CNN
Nov 29, 2012 12:00am PST
the fiscal cliff, aweterity masquerading, i hope he will remember the mandate he has from the people. who put him in the white house. i hope he remembers that budgets are moral documents. say what you say, but you are what you are. you put your budget onley table, we'll see what you think of women and children, those suffering community. african-american unemployment, completely off the charts. hispanic community, not doing much better. i saw a number today, as a matter of fact, piers, the median net worth in this country is now at the level of 1969. from 1983 to 2010, the top 1%, their median income dropped 71%, their median net worth jumped 71%. the rest of the country at 1969 levels for median net worth. the president has to understand that. he can't cave in on the debate with the republicans in washington. >> who do you think the gop should turn to now to try to become more electable. putting aside your preferences. where should they go? be braver this time, have a vp pick of condoleezza rice or marco rubio? what should they be thinking? >> my preference is for the president to be more progressive, number one. to
CNBC
Nov 29, 2012 9:00am EST
fiscal cliff is sticking in solidarity with it. we're asking what he would be willing to compromise on. >> as we mentioned, house speaker boehner and other leadership meeting with treasury secretary geithner. boehner is expected to hold a press conference afterwards at 11:30 a.m. and we will bring it to you live. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. you can stay in and like something... or you can get out there and actually like something. the lexus december to remember sales event
CNN
Nov 29, 2012 1:00pm PST
closer to the so-called fiscal cliff. we're also getting new details right now about what happened today when mitt romney had lunch with president obama over at the white house. and in the middle east, joy and flag waving because of an impending decision at the united nations. i'll ask israel's ambassador to the united states why he thinks -- why his country thinks the u.n.'s possibly interaction is a bad idea. i'm wolf blitzer. you're in "the situation room." >>> we begin with today's hard words in the negotiations to avoid the so-called fiscal cliff. that steep across the board spending cut and tax increase scheduled to hit in just 33 days. in a scathing assessment today, the speaker of the house john boehner says there's been no substantive progress on a deal. need to realize there can be no deal without tax rates going up for top earners. let's go live to our chief white house correspondent jessica yellin. she's got more on the latest developments. tough talk from both sides, jessica. >> reporter: tough talk and some bright lines, wolf. on the same day that treasury secretary tim geithner went to capitol hill to meet with both democrats and republicans to tal
NBC
Nov 28, 2012 5:00pm PST
fiscal cliff. we just got a picture from the white house. you can see mayer just barely there on the right-hand side -- on the left-hand side of the picture, bottom left-hand corner. she joined more than a dozen other business leaders at the white house today. mayer is also making headlines for her speech to an invite only crowd in palo alto last night. she said she juggles her priorities listing god, family and yahoo. adding, quote, the baby's been way easier than everyone made it out to be. so those have been the two really terrific surprises. the kid has been easier, and the job has been fun. >>> for the second straight day, heroic actions saved lives from a burning vehicle. the good samaritan in this case jesus hernandez saw an rv on fire in east san jose. it happened this morning, and he heard screams for help from that rv. he grabbed a garden hose and was able to open the door and help two women out of the rv. when firefighters showed up, they pulled out a 4 week old pit bullpuppy from the fire. investigators say the cause is most likely from candles burning. >> it's not suspic
ABC
Nov 28, 2012 4:00pm PST
part of a push to avoid so called fiscal cliff. >> and later, where the toxic chemicals are likely to be found in your house. >>> san francisco man accused of impersonating a physician assistant is in court today. >> he came face-to-face for the first time with the man he was pretending to be. it's a story you'll see only on abc 7 news. >> the more you learn about the story, the more bizarre it becomes. this was the second full day of the preliminary hearing and so far, five women have testified. they claimed they were abused, now, they've testified in person or through their investigators. today, in court, a bizarre encounter. this is a man prosecutors say is carlos guzman, qharjd counts including sex crimes and practicing medicine without a license. >> you never met this man? >> never. never. >> never heard of him? >> no. never. >> this is the real physician's assistant. authorities say the suspect's real name is close to his. carlos guzman garza. guzman came to court facing the man who stole his identity for the first time. he told us it was just, well, strange. >> this is disbelief. >> prosecutors say she perfor
FOX News
Nov 29, 2012 3:00pm PST
developments tonight in the fiscal cliff negotiations. republicans are pushing back hard. against president obama and the democrats over what will be in whatever deal they craft to avoid the implementation of the automatic spending cuths and tax increases. chief white house correspondent ed henry is live with details. good evening, ed. >> tonight we have new details of exactly what treasury secretary geithner laid out to republicans in the big meeting earlier today is. the republican aides tell mike emanuel there was a lot of detail about the new tax increases. $1.6 trillion in new tax increases from the new rate, capital gain, dividends as well. new spending, starting with $50 billion next year. the white house is countering that is leftover stuff from the president american jobs act. not really spending. nonetheless, the republican aides on the hill saying this is a nonstarter to them. white house aide i just spoke to said that this is not new. this is the president's original budget framework going to september of 2011. they say inside the white house tonight the real problem is the republicans will not give in on new tax increases for the rich. so tonight we're still hopelessly deadlocked. >> optimism faded as tim geithner arrived on the hill ahead of christmas wi
CNN
Nov 28, 2012 9:00pm PST
allowed him to get to the white house. again, the so-called fiscal cliff, austerity masquerading, i hope he remembers the people that put him in the white house, the mandate. and that budgets are moral do t documents, you can say what you say, we'll see what you are, you can say what you think of women, the suffering, african-american communities. completely off the charts. the hispanic community not doing much better. i just saw a number today, in fact, piers, the median net worth in this country is now at the level of 1969. from 1983 to 2010, the top 1%, their median net worth jumped 73%, the rest of the country, we're now at 1969 levels for median net worth. the president has to understand that. he can't cave in on this debate with these republicans in washington. >> who do you think the gop should turn to now to try and become more electable. putting aside your obvious preferences. where should they be going? should they have had a vp pick of a condoleezza rice, or a marco rubioo. >> well, first of all -- >> it is always healthier. >> sure, i agree, i agree in competition. i like real contests. so i want to see this kind of contestation. i thi
FOX News
Nov 29, 2012 8:00am PST
/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return there surely over the next couple hours. let's talk about some renewed private sector pushing to really slash the federal budget. a group called citizens against government waste is calling for nearly $2 trillion in cuts the next five years. doug mckelway is live with the story. doug, how realistic is that goal? >> reporter: how realistic is the goal? not realistic at all. let's be honest about this. at least it is a benchmark we can strive for. citizens against government waste went through the federal budget, they identified $392 billion in cuts. $1.8 trillion in cuts over next five years. which totals 11% of the federal budget, none which touches the most controversial issues of entitlement spending or health care issues. in addition to that they found
CNN
Nov 29, 2012 4:00am PST
getting the fiscal cliff deal done before everyone's taxes go up. >> consolation lunch? president obama visits mitt romney to the white house today and everyone is buzzing about it. could obama offer him a job? >> congratulations to someone. you just won the gdp of a small nation. not just one but two winning tickets in last night's record powerball drawing. we'll tell you where. >> and if they will be my best friend soon. we have a packed show. john ba, rasso, adam shif, rick warren, tom cole, connie and mary bono mack and steven holcomb. >> we have so many people coming up. it is thursday, november 2. "starting point" begins right now. >>> good morning, everyone. our starting point this morning, developments happening now in cairo. the u.s. embassy there is closed. no one is being allowed in or out as we speak. >> embassy officials say protesters are blocking the entrance and clashes are happening near nearby. reza sayah is nearby for us. what's happening? >> reporter: there is no indication protesters are targeting the u.s. em wibassy b it was closed as a precaution. these are protesters who clashed with police. these are the
CBS
Nov 29, 2012 4:30am PST
discussions are planned on capitol hill today in an effort to avoid that dreaded "fiscal cliff." tim geithner and rob neighbors plan to visit separately today with the four house and senate leaders to find common ground on averting a series of tax increases and spending cuts scheduled to start in january. >>> president obama will have lunch in a couple of hours with mitt romney. it will be the first time the two have met face to face since their final debate shortly before this month's election. the event at the white house will be private. no aides will be present. no media will be allowed. it would be fun to be there. >> no kidding and that "fiscal cliff" i'm sure is going to come up. >>> a new york city nanny pleads not guilty to charges that she killed two children. yoselyn ortega is accused of stabbing a 6-year-old girl and a 2-year-old boy who were in her care. she also stabbed herself and is still in the hospital. police say the mother returned home last month and found her children dead. >>> two bp rig supervisors and a former bp executive pled not guilty to criminal charges in the deadly deepwater horizon rig explosion from 2010. the supervisors are charg
CSPAN
Nov 29, 2012 10:00am EST
hill today to talk about the fiscal cliff negotiation. we'll be hearing from the speaker shortly. the house gavels back in at noon eastern with just one bill on the agenda today. that's a bill that is a new visa proposal for foreign students earning advanced degrees in science, engineering, and math in the u.s. that's coming up at noon. and back at the white house, the president is having lunch with his former rival, mitt romnifment they are having a private lunch at the white house and also today the briefing at the white house with jay carney. that will get under way at about 12:30 eastern. we'll have that at c-span.org. there's also word today that the congressional organizers of the presidential unanimous consent racial have announced today that the theme of the festivities in 2013 will be called, "faith in america's future." "the washington post" writes that the focus similar to the forward theme that the obama campaign used during the closing months of the campaign. announced today, reported here by "the washington post." here on c-span waiting to hear from house speaker john boehner on the
ABC
Nov 29, 2012 4:30am PST
fiscal cliff. they will discuss now to avert tax increases and spending cuts due to begin in january. >>> little progress in talks between the white house and house speaker boehner. >>> if you the past few days wishing you had -- california may be getting into the big game power ball played in 42 other states. lottery officials meet today expected to adopt regulations to join power ball on the heels of the staggering jackpot of 579 million dollars two winning tickets were drawn, sold in arizona and missouri. california retailers could begin selling the $2 tickets next year would it bring in 90 to 120 middles to help supplement education spending in -- million dollars to help supplement education in -- spending. >>> let's see if we are winners the weather race today. i think we are if you count raindrops. >>> we are still looking at two bigger storms headed our way, light showers this morning, live doppler showing most activity in the north bay up through cloverdale, ukiah, a few showers offshore also napa and snow may. if you are headed out highway 101 and 121 on the wet side, be careful, give yourself extra time visibility not a problem te
NBC
Nov 29, 2012 11:00am PST
on fiscal cliff negotiations on capitol hill. >>> speaking of that fiscal cliff, both democrats and republicans right now still battling to try and find a compromise. top white house negotiate easy heading to capitol hill today to keep those talks going, trying to avoid that looming deadline. tracie potts has the latest on the fight to keep your tax breaks from vanishing. >> reporter: treasury secretary tim geithner and rob nabors bring the president's deficit-cutting plan to capitol hill today. >> i'm open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know if it includes the government spending less money. >> we put revenue on the table as long as it's accompanied by serious cuts. >> reporter: white house leaders are meeting with boehner and top republicans. at least one analyst thinks there could be a deal here. >> if i were involved in a negotiation like this and everybody was purporting to be where they are, i would say that an agreement was reachable. >> i'm hopeful but don't put me down anywhere near optimistic. >> reporter: one conservative republican is now suggesting while negotiations continue on whether the wealthy should
MSNBC
Nov 29, 2012 1:00pm PST
the fiscal cliff. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. >> speaker boehner said the president needs to get serious about what spending cuts he's willing to make. but that was news to senate majority leader harry reid. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect then? >> i don't understand his brain, so you should ask him, okay? >> he's not alone. all this comes as treasury secretary tim geithner held separate meetings today with boehner, reid, nancy pelosi, and mitch mcconnell, and over at the white house spokesman jay carney said the debt ceiling should not be a pawn in any kind of fiscal gamesmanship. >> asking for a -- that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time in its history is deeply irresponsible. >> now, if you're se
PBS
Nov 28, 2012 6:00pm PST
, it's all fiscal cliff, right? let's talk about how the white house is using social media and online efforts on that issue. >> it's as if this massive social media machine that propelled barack obama into office never stopped moving. and you found that at the white house today where he gave a speech talking about the fiscal cliff, introducing the hashtag-- which is a way of grouping something-- my2k, which is a playoff of waoeubgt, ther of y2. he's saying if you don't do something you are going to have to pay as middle-class taxpayers, $2,000 allegedly. >> if congress doesn't stop the automatic tax hikes. >> brown: but this was in the context of a whole week where he's making his play, right? but doing it online? >> it's fascinating with the president of the united states building it around a twitter campaign, we've come to take that for granted but i did a little search for this my2k. on twitter. barack obama comes up second. you know what comes up first? the conservative heritage foundation which bought a promoted tweet, which means theirs goes to the top of the list and it says "f
FOX Business
Nov 29, 2012 5:00pm EST
mortgage interest deduction could be on the chopping block as part of a fiscal cliff deal. will this kill any incentive to buy a home and the housing market right along with it? we'll take a look. >>> a new report that exxonmobil has a oil shortage going on. its oil and gas output is at a 3-year low. we'll tell you why and whether you need to worry about more industry giants suffering the same fate. >>> put your money where your mouth is. a rapper offers a mill dollar reward for the lost laptop. when it is found he refuses to pay up. the financial fight goes to court. you won't believe who the jury has singing the blues. even when they say it's not it is always about money liz: all right. first let's take a look at the day's market headlines, will they or won't they? this is worse than an episode of "friends" i have to tell you. mixed signals from congressional leaders sent stocks whipsawing but all the major indices rose at the end of the day. the dow closed 36 points. it is something, come on. >>> research in motion hearing words they're not used to, buy. goldman sachs upgraded company citing prospects for its upcoming blackberry 10 pho
CNBC
Nov 29, 2012 1:00pm EST
the trading floor. bob pisani's here with me. once again -- >> the fiscal cliff circus continues. we're going along, it is nice and quiet day. then of course look at the dow jones industrial average. 1,130 or so. speaker boehner, head of the house, said no substantive progress made in talks with the white house. stocks dropped on those comments. there's that drop in the middle of the day. we came off around noon, that's when the democrats started talking. senator charles schumer of new york, among others, saying he was confident a deal could be made by christmas. stocks rose. you get the idea? stocks up, down, whoever says anything in washington. fact remains this is a pretty good market. 2.5 advancing stocks to deep kleining stocks. that's pretty good. look at advances. when you get a market where health care an materials an financials are all up, although fracti fractionally all of them are up, that's a nice advance for markets overall. not so great for retailers. there is serious damage today. kohl's down 10%. you don't see these stocks move 10%. tiffany's missed. that's a big move in tiffany's. a lot of people holding their breath. discounters like ross and tjx, better. >> but still, the retail picture is not looking good. >> the
CNBC
Nov 29, 2012 6:00pm EST
trump the ills of the fiscal cliff, at least once it's sorted out. ultimately the cliff will be sorted out. of the three housing-related ipos, you need to be careful with zillow and trulia, the only one i will endorse is real ogy, and only if it comes down. how about michael in california, please? michael. >> caller: boo-yah to you, jim. with a solid dividend that pays monthly at almost a 16% yield, the current valuation a dollar benine book value, isn't a.r.r. a great value? >> you know what? i have thought it was. this is another one of those real estate mortgages reits, that i have somewhat been mystified about the price performance. someone asked about this on the street, and i said i think it should be doing better. i agree, i think it's an okay buy. john in oregon, please. >> caller: boo-yah, jimmy, how are you? >> boo-yah back at you. >> caller: residential 4078 builders, i bought in about six or eight months ago, i have about four of them right now. it seems like the market as flattened out as far as they're concerned. should i hang onto them or ring the bell? i was talking with the research director, a frequen
MSNBC
Nov 29, 2012 2:30am PST
. the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now is 11 years old. it's 20% of the cars on the road are 16 years old.
FOX News
Nov 29, 2012 6:00am PST
2k. the white house is saying if the u.s. goes off the fiscal cliff it will cost the average middle class family $2,200 a year and they want middle class social media users, twitter users who don't want that to happen to get online right now. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. right them an email. post it on their nice book walls. you can tweet it using the hashtag, my 2k. >> reporter: as you heard at the top of the show treasury secretary timothy geithner is going to be on the hill today. one of his meetings will be with senate majority leader mitch mcconnell who just said, we are eager to hear the administration's specific plans for protecting jobs and growth by reducing the national debt, reducing washington spending and preventing a tax hike on every american taxpayer. so, bill, the two sides are talking to each other but it does sound like we are a little ways away fro
Current
Nov 29, 2012 3:00am PST
the white house yesterday. >> what is that? >> it is the who. >> bill: story about the fiscal cliff. okay. we were at the white house yesterday. president obama launching his new political campaign to get americans to speak up and say what $2,000 would mean to them which is $2,000 more they're going to have to pay in taxes unless the house republicans vote for this 98% the tax cuts for 98% of americans which the senate has already approved. do you think it is going to happen and are we going to avoid going over the fiscal cliff? >> this is a very tough situation we're in as a country. i just want to re-emphasize what the president was saying yesterday. the senate of the united states by a 51-vote margin, has already passed an extension of the so-called bush tax cuts, the lower tax rates for 98% of american families. 97% of small businesses on all income below $250,000 a year. the house has to join us. folks love to talk about how business hates uncertainty and uncertainty is terrible for the market. well, the easiest way to end the uncertainty about the fiscal cliff and tax rates and their potential impact of the vast majorit
KRON
Nov 29, 2012 7:00am PST
hill to find out the conditions of the looming fiscal cliff. they complain that the white house has not provided them on how the president will curb medicaid and medicare. if the president has been consistent and that he does not want the tax to go for people who are under too much as $50. he is adamant that any new tax revenue must come from--he once rates lowered and was is that and find a middle ground. >> in bay area a news they have released the names of two girls were shot and killed over the weekend in oakland. a 16 year-old girl and a another 15 year-old were found shot to death about 6:00 in the morning in east oakland. they have been hit by multiple gunshot loans. if they stated that they do not have a modem and they do not know why these girls were on the street along. no arrests have been made. >> oakland police are asking for your help. there is a 16 year-old girl walked away from a group home on coolidge ave. if the staff followed her but then they lost sight of her. she is considered at risk because even though she is set at 16 years of a her capacity is of a nine yea
MSNBC
Nov 29, 2012 6:00am PST
had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near the optimistic category. we have a long way to go and a few days to get it done. >> don't forget that's erskine bowels. republicans are trying to put pressure on democrats even as democrats enjoy the moment on taxes. here is where republicans are on entitlements. >> there's been no serious discussion by the white house on entitlements, on medicare and medicaid. this has to be a part of this agreement or else we just continue to dig the hole deep i. >> republicans are very frustrated that what's taking up oxygen right now is the issue of taxes. in fact, yesterday that's what happened. the first major public break inside the republican controlled house, oklahoma congressman tom cole who endorsed the president's short-term approach. >> in my view we all agree we'
CSPAN
Nov 29, 2012 1:00pm EST
sending the economy over the fiscal cliff. we have a dairy production cuts tuesday we had productive conversation at the white house. despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. campaign-style or allies is not aid -- campaign-style rally is not the way to get things done in washington. a discussion with the treasury secretary was frank and direct. we hope to see a specific plan for cutting spending. we sought to find out but the president is unwilling to do. i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. yesterday the leadership team met with erskine bowles and business leaders about averting the fiscal cliff and achieving an approach the white house says it wants. i made clear that we put real concessions on the line by putting re
FOX Business
Nov 29, 2012 3:00pm EST
fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor. we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus funds. that helps insulate us against some of the ups and downs of the market place nationally. our unemployment rate has dropped to 5.2. we are creating jobs. we are growing wealth in the private sector. our personal income is going up also. we are doing things that they ought to be doing in washington, d.c. liz: in the next three weeks, as you have meetings with your staff, you tell me, we talked about, for example, they have to prepare two separate budgets. how are you expected to be affected if, for example, 30% of your budget comes from federal funding, what if that goes away? >> 80% of that does not impact us at all in the state of utah. but, there i
CNBC
Nov 29, 2012 4:00pm EST
something else? this constant focus on the fiscal cliff, obviously, it's been dictating sentiment. it's been dictating markets. are there other areas that investors should be looking at? >> well, i had a guest this morning, dr. saunders, who's testified on issues regarding housing, fha, in front of congress. he knows what he's talking about. he brought up what many of us are looking at. a lot of -- you know, real estate, residential construction was one of the positives in today's gdp report. we've seen a lot of positives in housing. but there's been a lot of legal ranging over a big group of foreclosures that looks like it's cleaned itself up. 2013 could see a lot of these dumped in the marketplace. i think housing is an area that we've seen progress, but it still might have a sluggish 2013. i really agree with our guest on high-yield munis. remember, there has been talk that one of the reforms, one of the loopholes they may close is some of the tax treatment of munis. i personally don't think it will happen, but it is an issue to be on top of. >> all right. let me ask you guys the same question, jordan and ben. are there other issues you think will drive the markets away from the fiscal cliff, or is this the appropriate issue to focus on in terms of the impact on
FOX Business
Nov 28, 2012 9:00pm EST
congressional leaders and the white house to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the -show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democrati leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have youere. >> thank y very much. gerri: president with strong words for congress. here's what he had to say. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next wreer. right now, as we speak, coness can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. gerri: there's the president calling out congress. what do you have to say, congressman? >> yeah, here we go in the middle of this. the house passed all our tax things in april. we passed the sequestering documents in may. we waited for th
FOX
Nov 29, 2012 4:00am PST
got the president's ear earlier this week on the impending fiscal cliff. today, president obama meets with mitt romney for a private lunch at the white house. and treasury secretary tim geithner will hold talks with congressional leaders about reducing the deficit while keeping the economy growing - a lot of input being gathered on how to resolve the inevitable. president obama met with his cabinet wednesday for the first time since his re-election. but otherwise, his schedule has been filled with business leaders and resolving the fiscal crisis sooner rather than later. "families need confidence to go out and spend going into christmas." tuesday, leaders from small business gave their views. "i said the more people have money in their pocket, the more they'll spend and we'll do better." "i suggested raising the minimum wage, tying it to an inflation index, and national leadership in online retail taxes." and there's a concerted public effort: the white house website features an appeal to "speak out to keep taxes from going up on the middle class." "if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaig
CNBC
Nov 29, 2012 5:00pm EST
they've obtained a copy of the white house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so in a debate we're seeing over spending cuts, "the wall street journal" now reporting at the top of this hour that the white house would like to see $5
CNBC
Nov 29, 2012 4:00am EST
to meet with congressional leaders on, yes, the fiscal cliff. geithner's president lead negotiator in the budget talks. he'll meet first with harry reid at 10:00 a.m. and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal c
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